PPG Industries (NYSE:PPG) Hits New 1-Year Low – Should You Sell?

PPG Industries, Inc. (NYSE:PPG) shares hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $109.96 and last traded at $110.39, with a volume of 323943 shares changing hands. The stock had previously closed at $111.72.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Citigroup reduced their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. KeyCorp downgraded PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. The Goldman Sachs Group cut their price objective on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. JPMorgan Chase & Co. cut shares of PPG Industries from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $145.00 to $115.00 in a report on Wednesday, February 12th. Finally, StockNews.com cut shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, PPG Industries currently has an average rating of “Moderate Buy” and an average price target of $138.15.

PPG Industries Stock Down 2.0 %

The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $24.84 billion, a PE ratio of 23.13, a PEG ratio of 2.19 and a beta of 1.23. The firm’s fifty day moving average is $117.40 and its 200-day moving average is $123.02.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. On average, equities research analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be issued a $0.68 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.49%. PPG Industries’s dividend payout ratio (DPR) is 57.51%.

Insiders Place Their Bets

In related news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the transaction, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PPG Industries

Hedge funds have recently made changes to their positions in the business. Park Square Financial Group LLC acquired a new stake in shares of PPG Industries in the fourth quarter valued at about $26,000. Legend Financial Advisors Inc. purchased a new position in shares of PPG Industries in the fourth quarter valued at $27,000. Pin Oak Investment Advisors Inc. grew its holdings in PPG Industries by 465.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 200 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in PPG Industries in the 3rd quarter valued at about $34,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in shares of PPG Industries during the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.